It looks as though initial assessments of Florida's new personal injury protection law were correct.
As 145 PIP coverage rate filings swamp the state's Office of Insurance Regulation (OIR), per a mandate set by the legislation (HB 119), it appears as though "the savings will result in a mitigation of rate increases rather than actual rate reductions for most companies," says Insurance Commissioner Kevin McCarty in a statement.
Nevertheless, the commissioner says the filings "represent a major shift in the trajectory of PIP-insurance rates in Florida."
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